Concert Golf Partners assumes control of Gaillardia G&CC

A public auction for Gaillardia Golf & Country Club is no longer necessary.

Concert Golf Partners has assumed control of the tony but financially troubled Oklahoma City, Oklahoma private club, which had been built in the mid 1990s for $59 million by Edward King Gaylord, the city’s foremost newspaper publisher. Gaillardia features an 18-hole, Arnold Palmer-designed course (later remodeled by Tom Kite) that’s hosted a pair of men’s senior championships.

“It’s always been a fabulous club. It was just wrongly capitalized,” Concert’s CEO, Peter Nanula, told the Oklahoman. “The club is now debt free, with a long-term, stable future.”

Concert acquired the first mortgage on Gaillardia last summer and apparently didn’t wish to risk being out-bid by another buyer. In recent weeks it took the initiative by purchasing the second mortgage on the property and reaching a settlement with the club’s former owner, a group led by Phil Herrington.

“We specialize in these complex golf club situations, and we are pleased to have paid off both banks’ loans prior to foreclosure and also addressed this exclusive club’s need for immediate capital improvements,” Peter Nanula of Concert Golf said.

Concert Golf Partners has now acquired 8 courses during the past two years. It has a significant pool of capital to buy and operate large-scale private clubs located in major metro areas.

Concert will officially take over Gaillardia next month. Gaillardia includes a three-level 55,000 square foot French Normandy-style clubhouse, state-of-the-art meeting rooms, Wine Room, 6,000 square foot Fitness Center, pool, tennis courts, bent grass greens, and the Gaylord Learning Center practice facility with target greens and separate chipping, putting and bunker facilities.

Comments

Jack, Your article incorrectly claims Arnold Palmer as the original designer of the golf course. It was in fact Arthur Hills.... I'm sure you want to make that clarification to credit the man's work.

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